Important Current Affairs 27th July 2016

SBI Launch Debit card-less IMT Facility

1. SBI has launched a instant money transfer (IMT)  payment system which will allow the account holders transfer money using mobile phone number as identifier.
2. There is no requirement for the beneficiary to have a bank account.
3. The recipient of this payment can withdraw funds instantly from an IMT-enabled ATM of SBI without using a debit card.
4. IMT enables a payment of up to Rs 10,000 to be made.

TCS, Infosys in Forbes Super 50 List

1. Software majors TCS and Infosys, pharma giants Sun Pharma & Lupin and private sector lenders HDFC Bank and Axis Bank feature in Forbes Indias Super 50 List this year.
2. The list in its second year, also features 14 newcomers, includes Infosys, Maruti Suzuki, Bharat Forge & Alembic Pharma
3. The list is not a ranking, but a listing of companies which have performed excellently on these three counts.

ITC Appoints Sanjiv Puri as New COO

1. ITC Ltd has named Sanjiv Puri to the newly created post of chief operating officer,
2. Mr. Puri was brought on ITC’s Board in December 2015 in a move that was seen as part of Chairman Y. C. Deveshwar’s succession- planning.
3. Mr. Deveshwar is stepping down as Executive Chairman of ITC in February next year.
4. Puri is an alumnus of the Indian Institute of Technology, Kanpur & joined ITC in 1986.

Govt Issue Notification for 7th Pay Comm

1. The govt  has issued notification for the implementation of 7th Pay Commission.
2. With the issuance of notification, 4.8 million central govt employees & 5.2 million pensioners will get the increased payout from their August salaries.
3. The Cabinet had approved the recommendations made by the 7th pay commission in June.
4. The pay panel had in November last year recommended 14.27%  hike in basic pay.

Flipkart-owned Myntra Acquires Jabong

1. Flipkart’s unit Myntra has acquired online fashion retailer Jabong.
2. Jabong got acquired at a price of $70 million (Rs 470 crore) in an all-cash deal.
3. Myntra is the largest online fashion retailer & is looking to strengthen its portfolio in the high-margins space.
4. Flipkart will now have access to 15 million active users from Myntra & Jabong together.

Hague Tribunal Rules Against Govt

1. The international tribunal in The Hague has ruled against Antrix Corporation in the ongoing case with Devas Corporation over sharing of spectrum on satellites.
2. Antrix Corporation is the commercial arm of the Indian Space Research Organisation (Isro).
3. With this, India may likely have to fork out $1 billion as compensation to Devas.
4. The 2005 agreement was annulled by the UPA government in 2011.

Shot Putter Inderjeet Fails Dope Test

1. Rio-bound shot putter Inderjeet Singh  has become the second athlete to test positive for a banned substance.
2. He has been notified by the national anti-doping agency that he has returned a positive test for banned substances in his A sample.
3. He has won the gold medal at the Asian Athletics Championships in 2015.
4. If the ‘B’ sample is also found to be positive,he will have to sit out the Olympics.

Ashwin Regains Top Spot in ICC Rankings

1. India off-spinner Ravichandran Ashwin has surged to the top of the ICC player rankings for Test bowlers.
2. Ashwin was top-ranked in the 2015, regained the top spot with his second-innings haul of seven for 83 against West Indies in Antigua.
3. Ashwin has replaced Pakistan leg-spinner Yasir Shah.
4. Captain Virat Kohli has move up two places to 12th place in ICC Player Rankings for Test Batsmen.

Parveen Rana to Replace Narsingh Yadav

1. India has named Parveen Rana as replacement for dope-tainted wrestler Narsingh Yadav for Rio Olympics.
2. Narsingh had failed a dope test recently and was under provisional suspension.
3. He is to face the National Anti-Doping Agency’s disciplinary committee to prove his innocence.
4. Rana had won a gold medal in the 74kg category at the Dave Schultz Memorial wrestling tournament in USA in 2014.

India Discovers Natural Gas Hydrates

1. A large natural gas discovery has been made in the Indian Ocean following a joint expedition by India & U.S.
2. India’s Oil Ministry & the US Geological Survey made the discovery of gas hydrate in the Bay of Bengal.
3. This is the first discovery of its kind in the Indian Ocean.
4. Natural gas hydrates are a naturally occurring, ice-like combination of natural gas& water found in oceans & polar regions.

Parliament Passes Child Labour Bill

1. Parliament has passed the Child Labour (Prohibition & Regulation) Amendment Bill,2016 with Lok Sabha approving it.
2. The bill seeks to prohibit the employment of children below 14 in all occupations except those run own family.
3. It seeks to make child labour a cognizable offence attracting a jail term of up to three years.
4. The Bill also defines children between 14 to 18 years as adolescents.

Centre Approves Rs 1601 Cr For J&K

1. The Centre has approved nearly 1,600 crore rupees for Jammu and Kashmir under skill development initiative ‘Himayat’
2. The aim is to train 1.24 lakh local youths indifferent vocational courses.
3. Youths would be imparted training in various job-intensive vocational courses over the next three years.
4. They will be given training for six-months, nine-months and one year job-oriented courses.

Team to Find alternatives to Pellet Guns

1. An expert team was constituted by the govt to explore possible alternatives to pellet guns.
2. Home Ministry Joint Secretary T V S N Prasad will head the team.
3. Several people have been injured in the last fortnight when CRPF personnel used pellet guns to control violent protesters in Kashmir
4. The paramilitary force has received widespread criticism for the use of this category of non-lethal weapon

Irom Sharmila to Break 16-year Fast

1. Manipuri rights activist Irom Sharmila, popularly known as the ‘Iron Lady’ has decided to break her fast of 16 years.
2. She has been on a hunger strike since November 2000, when 10 civilians were killed by security forces at a bus stop near Imphal airport.
3. She has been demanding the repeal of controversial Armed Forces (Special Powers) Act ( AFSPA).
4. She will break her fast on August 9.

Odisha Approves 3 Investment Projects

1. The Odisha govt has approved three projects involving investment of nearly 870 crore rupees.
2. The decision was taken at the state level single window clearance authority meeting.
3. The projects will generate employment potential of 630 persons.
4. The projects are expansion of Coca-Cola Beverages,2.50 lakh hectolitre capacity brewery plant and Bharat Petroleum Corp Common User Facility Centre.

India 1st to Contribute to UN Trust Fund

1. India has contributed $100,000 to a United Nations trust fund set up for victims of sexual exploitation and abuse by peacekeepers.
2. India has become the first country to make a contribution to the fund.
3. The Trust Fund was established in March 2016 under the aegis of United Nations Department of Field Support (DFS).
4. The fund seeks to support services for victims and address gaps in services.

Egyptian Filmmaker Mohamed Khan Dies

1. Celebrated Egyptian film director Mohamed Khan passed away.
2. He has been one of Egypt’s leading cinematic figures since the 1980s.
3. He directed 24 feature films starring the country’s leading actors and actresses, denouncing the oppression of Egyptian women and fighting social ills in films.
4. His most recent awards include best director honors for Factory Girl at the Cairo National Festival in 2014.

NZ aims to become Predator Free by 2050

1. New Zealand PM John Key has announced an ambitious plan called Predator Free New Zealand 2050.
2. It aims to completely rid the nation of rats & some other nuisance animals including possums & stoats.
3. The govt is hoping a rat-free countryside will give a boost to native birds.
4. Many bird species are threatened with extinction because rats & other pests feast on their eggs &compete with them for food.

Bezwada ,TM Krishna win Magsaysay Award

1. Two Indians,human rights activist Bezwada Wilson & classical musician TM Krishna have won the Ramon Magsaysay Award for 2016.
2. Bezwada Wilson has been lauded for his efforts towards asserting the inalienable right to a life of human dignity.
3. Carnatic musician TM Krishna has been awarded for  ensuring social inclusiveness.
4. The Award was named after former Philippine President Ramon Magsaysay.

Hillary Clinton Secures Nomination

1. Hillary Clinton has clinched the Democratic nomination for US president after reaching the required number of delegates.
2. She is now the first woman to become the presidential nominee of a major U.S. political party.
3. She secured her nomination after a majority of the 4,764 party delegates formally backed her.
4. She will run against Donald Trump who secured the Republican nomination just last week.